CAMBRIDGE, Britain (AP) _ Astrazeneca PLC (AZN) on Friday reported first-quarter profit of $593 million.
On a per-share basis, the Cambridge, Britain-based company said it had net income of 24 cents. Earnings, adjusted for asset impairment costs and non-recurring costs, came to 45 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.
The pharmaceutical posted revenue of $5.49 billion in the period.
Astrazeneca expects full-year earnings in the range of $3.50 to $3.70 per share.
Astrazeneca shares have climbed nearly 3 percent since the beginning of the year. The stock has increased 11 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AZN at https://www.zacks.com/ap/AZN